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05-Dec-2015 06:47

If we take a glance at the previous track record of buying Bitcoin via Paypal, we will see that people have indeed faced many inconveniences with Paypal.

These difficulties arise due to recurring situations where a person uses Paypal to buy Bitcoin, and then initiates a chargeback, in which the person claims to never have received the bitcoins, and demands a refund from the Bitcoin seller.

Paypal and Bitcoin Streamline the Online Purchasing Process Paypal is one of the most trusted and popular services for online transactions these days.

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On one hand, Paypal makes online, fiat transactions fast and easy.

On the other hand, Bitcoin is both a currency and payment system that operates independently of the fiat monetary system, thereby making online purchases more like an equivalent of cash purchases in the real world—whereas Paypal is merely an intermediary between the Internet and a Physical bank.

It is said that Paypal often favors fraudulent merchants, so most Bitcoin traders expect this system to be dangerous with a high chance of having their money stolen, and may opt to refrain from purchasing bitcoins through Paypal.

It is possible to successfully use paypal to buy bitcoins, though, and sell them for a higher prices through online marketplaces, such as Local Bitcoins and e Bay.

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Bitcoin is another method of conducting online transactions, which has carved out its own place in the market.

Bitcoin is a decentralized, digital currency, with a fixed supply, that reduces the need for using physical or hard money.